Systems and methods for transferring funds in real time

ABSTRACT

An apparatus is disclosed which includes a processor and non-transient memory operatively connected to the processor. The memory includes instructions which, when executed by the processor, cause the processor to: receive, from a server hosting a managed services gateway, an authorized funding amount which is based on user account data associated with the user account; transmit a funds transfer request to the server, where the funds transfer request includes a funding amount less than or equal to the authorized funding amount; transmit a funds-transfer confirmation message to the server which causes the managed services gateway to initiate an internal funds transfer on a bank server associated with the user account. The internal funds transfer comprises a real-time transfer of funds from a managed services account owned by a managed services provider to a consumer account associated with the user maintained with the same bank.

CROSS-REFERENCE TO RELATED APPLICATIONS AND PRIORITY CLAIM

This application claims the benefit of U.S. Provisional PatentApplication No. 62/105,124 filed Jan. 19, 2015 and entitled “Systems andMethods For Account Processing, Risk Analysis, And Trust Services Of AMobile Lending Network.”

FIELD

The disclosure relates generally to the electronic transfer of money.More specifically, the disclosure relates issuing credit lines andelectronically transferring money in real time.

BACKGROUND

Millions of consumers need short-term, small dollar credit to help payfor retail transactions such as unexpected car repairs or healthcareexpenses and lack the means to borrow these funds on demand. Presentlyavailable solutions for these consumers may charge fees and interestrates exceeding 700% per annum, leaving the consumer facing long termdamage to her credit scores and financial status. Financial institutionsand alternative lenders fund approximately $25 trillion at any giventime. In parallel, physical and virtual prepaid, debit, and credit cardprograms are estimated increase in circulation to approximately 20billion accounts by the year 2017.

Traditional lenders include, for example, banks, credit unions, savingsand loans, and some less-regulated, state approved alternative lenders.These regulated financial institutions have not invested in technologyto lower product and operations costs via automation and electronicdelivery of lending services. Less regulated, more flexible lenders arefrequently driven out of business because of predatory lendingpractices. This deprives consumer of viable lenders for small, quickloans.

Over the past several years, most financial institutions have adoptedand deployed some form of internet banking services. These servicesenabling their customers to securely login and review account status andhistory, transfer funds between accounts, and possibly pay bills andcredit card accounts. However, financial institutions have typicallytransferred only a subset of their existing internet banking services tomobile devices. Further, the highly flexible, integrated architecturesdeveloped across the Internet using application programming interfaces(APIs) and messages that are simply shared via Representational StateTransfer (REST) objects and endpoints are becoming the norm for newmobile applications.

Financial institutions rely heavily upon the Federal Reserve's AutomatedClearing House (ACH) bank networks to transfer funds betweeninstitutions. Moving funds via the legacy ACH network requires a one tothree day delay before funds are deposited into the consumer's accountfor use. The ACH system and its associated rules and regulations havenot adopted real-time transaction processing technologies using mobileplatforms. Further, banks and credit unions are motivated to avoidmoving funds in real time because they receive interest payments forfunds that reside on their books during the one to three day transfers.

The legacy FICO scoring system for evaluating credit risk of consumersis also problematic. Credit scores are often reduced by one-time eventsrelated to poor economic conditions or substantial health care bills.Evaluation criteria are limited to performance with known creditors andsingle events may appear for several years in the history of a consumer.In addition, the FICO system is only updated once a month and may notrepresent the current state of a consumer's financial or employmentstatus. The FICO system lacks real-time access to key employerinformation about a consumer which could enhance the security and reducethe risk of issuing credit.

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 is a block diagram of a computing device illustrating thefunction relations between its components, in accordance with thepresent disclosure.

FIG. 2 is a block diagram of a system for account registration,requesting and approving credit lines, and transferring funds via realtime deposits into a bank account or the instant issuance or reload of avirtual bank card which illustrates the general functional relationsbetween its components, in accordance with the present disclosure.

FIG. 3 is a block diagram of a system for account registration,requesting and approving credit lines, and transferring funds via realtime deposits into a bank account or the instant issuance or reload of avirtual bank card which illustrates the functional relations between itscomponents when registering a new consumer account, in accordance withthe present disclosure.

FIG. 4 is a block diagram of a system for account registration,requesting and approving credit lines, and transferring funds via realtime deposits into a bank account or the instant issuance or reload of avirtual bank card which illustrates the functional relations between itscomponents when issuing a new consumer credit line via a consumerdevice, in accordance with the present disclosure.

FIG. 5 is a block diagram of a system for account registration,requesting and approving credit lines, and transferring funds via realtime deposits into a bank account or the instant issuance or reload of avirtual bank card which illustrates the functional relations between itscomponents when manually issuing a consumer credit line via a managedservices client, in accordance with the present disclosure

FIG. 6 is a block diagram of a system for account registration,requesting and approving credit lines, and transferring funds via realtime deposits into a bank account or the instant issuance or reload of avirtual bank card which illustrates the functional relations between itscomponents when checking an account status, available balance, andhistory via a consumer device, in accordance with the presentdisclosure.

FIG. 7 is a block diagram of a system for account registration,requesting and approving credit lines, and transferring funds via realtime deposits into a bank account or the instant issuance or reload of avirtual bank card which illustrates the functional relations between itscomponents when funds are transferred from a national managed servicesaccount to local managed services accounts, in accordance with thepresent disclosure.

FIG. 8 is a block diagram of a system for account registration,requesting and approving credit lines, and transferring funds via realtime deposits into a bank account or the instant issuance or reload of avirtual bank card which illustrates the functional relations between itscomponents when paying a consumer credit line via a consumer device, inaccordance with the present disclosure.

FIG. 9 is a block diagram of a system for account registration,requesting and approving credit lines, and transferring funds via realtime deposits into a bank account or the instant issuance or reload of avirtual bank card which illustrates the functional relations between itscomponents when paying a credit line via a managed services client, inaccordance with the present disclosure.

FIG. 10 is a block diagram of a system for requesting, approving, andtransferring loan funds in real time illustrating the functionalrelations between its components when paying a loan from consumeraccounts using batch processing, in accordance with the presentdisclosure.

FIG. 11 is a block diagram of a system for requesting, approving, andtransferring loan funds in real time illustrating the functionalrelations between its components when components when funds aretransferred from a local managed services accounts to the nationalmanaged services account, in accordance with the present disclosure.

FIG. 12 is a block diagram of a system for requesting, approving, andtransferring loan funds in real time illustrating the functionalrelations between its components when components when notification,fees, and interested are posted to multiple consumer accounts usingbatch processing, in accordance with the present disclosure.

FIG. 13 is a block diagram of a system for requesting, approving, andtransferring loan funds in real time illustrating the functionalrelations between its components when performing reconciliation andsettlement operations, in accordance with the present disclosure.

FIG. 14 is a flow chart illustrating a process followed by a consumerdevice for initiating a new funding request, or reload transaction, totransfer funds from the consumer's credit line via a consumer device.

FIG. 15 is a flow chart illustrating a process followed by a serverhosting a managed services gateway for initiating a new funding request,or reload transaction, to transfer funds from the consumer's credit linevia a consumer device.

DETAILED DESCRIPTION

Referring now to the Figures, in which like reference numerals representlike parts, various implementations of the computing devices and methodswill be disclosed in detail. FIG. 1 is a block diagram illustrating oneexample of a computing device 100 suitable for use with the disclosedsystems and methods for transferring funds in real time.

FIG. 1 depicts a block diagram of an illustrative computing devicearchitecture 100, according to an example implementation. As desired,implementations of the disclosed technology may include a computingdevice with more or less of the components illustrated in FIG. 1. Itwill be understood that the computing device architecture 100 isprovided for example purposes only and does not limit the scope of thevarious implementations of the present disclosed systems, methods, andcomputer-readable mediums.

The computing device architecture 100 of FIG. 1 includes a CPU 102,where computer instructions are processed; a display interface 106 thatacts as a communication interface and provides functions for renderingvideo, graphics, images, and texts on the display. According to someimplementations of the disclosed technology, the display interface 106may be directly connected to a local display, such as a touch-screendisplay associated with a mobile computing device. In another exampleimplementation, the display interface 106 may be configured forproviding data, images, and other information for an external/remotedisplay that is not necessarily physically connected to the mobilecomputing device. For example, a desktop monitor may be utilized formirroring graphics and other information that is presented on a mobilecomputing device. According to certain some implementations, the displayinterface 106 may wirelessly communicate, for example, via a Wi-Fichannel, Bluetooth, or other available network connection interface 112to the external/remote display.

In an example implementation, the network connection interface 112 maybe configured as a communication interface and may provide functions forrendering video, graphics, images, text, other information, or anycombination thereof on the display. In one example, a communicationinterface may include a serial port, a parallel port, a general purposeinput and output (GPIO) port, a game port, a universal serial bus (USB),a micro-USB port, a high definition multimedia (HDMI) port, a videoport, an audio port, a Bluetooth port, a near-field communication (NFC)port, another like communication interface, or any combination thereof.

The computing device architecture 100 may include a keyboard interface104 that provides a communication interface to a keyboard. In oneexample implementation, the computing device architecture 100 mayinclude a presence-sensitive display interface 107 for connecting to apresence-sensitive display. According to certain some implementations ofthe disclosed technology, the presence-sensitive display interface 107may provide a communication interface to various devices such as apointing device, a touch screen, a depth camera, etc. which may or maynot be associated with a display.

The computing device architecture 100 may be configured to use an inputdevice via one or more of input/output interfaces (for example, thekeyboard interface 104, the display interface 106, the presencesensitive display interface 107, network connection interface 112,camera interface 114, sound interface 116, etc.) to allow a user tocapture information into the computing device architecture 100. Theinput device may include a mouse, a trackball, a directional pad, atrack pad, a touch-verified track pad, a presence-sensitive track pad, apresence-sensitive display, a scroll wheel, a digital camera, a digitalvideo camera, a web camera, a microphone, a sensor, a smartcard, and thelike. Additionally, the input device may be integrated with thecomputing device architecture 100 or may be a separate device. Forexample, the input device may be an accelerometer, a magnetometer, adigital camera, a microphone, and an optical sensor.

Example implementations of the computing device architecture 100 mayinclude an antenna interface 110 that provides a communication interfaceto an antenna; a network connection interface 112 that provides acommunication interface to a network. According to certainimplementations, a camera interface 114 is provided that acts as acommunication interface and provides functions for capturing digitalimages from a camera. According to certain implementations, a soundinterface 116 is provided as a communication interface for convertingsound into electrical signals using a microphone and for convertingelectrical signals into sound using a speaker. According to exampleimplementations, a random access memory (RAM) 118 is provided, wherecomputer instructions and data may be stored in a volatile memory devicefor processing by the CPU 102.

According to an example implementation, the computing devicearchitecture 100 includes a read-only memory (ROM) 120 where invariantlow-level system code or data for basic system functions such as basicinput and output (I/O), startup, or reception of keystrokes from akeyboard are stored in a non-volatile memory device. According to anexample implementation, the computing device architecture 100 includes astorage medium 122 or other suitable type of memory (e.g., RAM, ROM,programmable read-only memory (PROM), erasable programmable read-onlymemory (EPROM), electrically erasable programmable read-only memory(EEPROM), magnetic disks, optical disks, floppy disks, hard disks,removable cartridges, flash drives), where the files include anoperating system 124, application programs 126 (including, for example,a web browser application, a widget or gadget engine, and or otherapplications, as necessary) and data files 128 are stored. According toan example implementation, the computing device architecture 100includes a power source 130 that provides an appropriate alternatingcurrent (AC) or direct current (DC) to power components. According to anexample implementation, the computing device architecture 100 includes atelephony subsystem 132 that allows the device 100 to transmit andreceive sound over a telephone network. The constituent devices and theCPU 102 communicate with each other over a bus 134.

According to an example implementation, the CPU 102 has appropriatestructure to be a computer processor. In one arrangement, the CPU 102may include more than one processing unit. The RAM 118 interfaces withthe computer bus 134 to provide quick RAM storage to the CPU 102 duringthe execution of software programs such as the operating system,application programs, and device drivers. More specifically, the CPU 102loads computer-executable process steps from the storage medium 122 orother media into a field of the RAM 118 in order to execute softwareprograms. Data may be stored in the RAM 118, where the data may beaccessed by the computer CPU 102 during execution. In one exampleconfiguration, the device architecture 100 includes at least 125 MB ofRAM, and 256 MB of flash memory.

The storage medium 122 itself may include a number of physical driveunits, such as a redundant array of independent disks (RAID), a floppydisk drive, a flash memory, a USB flash drive, an external hard diskdrive, thumb drive, pen drive, key drive, a High-Density DigitalVersatile Disc (HD-DVD) optical disc drive, an internal hard disk drive,a Blu-Ray optical disc drive, or a Holographic Digital Data Storage(HDDS) optical disc drive, an external mini-dual in-line memory module(DIMM) synchronous dynamic random access memory (SDRAM), or an externalmicro-DIMM SDRAM. Such computer readable storage media allow a computingdevice to access computer-executable process steps, application programsand the like, stored on removable and non-removable memory media, tooff-load data from the device or to upload data onto the device. Acomputer program product, such as one utilizing a communication systemmay be tangibly embodied in storage medium 122, which may comprise amachine-readable storage medium.

According to one example implementation, the term computing device, asused herein, may be a CPU, or conceptualized as a CPU (for example, theCPU 102 of FIG. 1). In this example implementation, the computing devicemay be coupled, connected, and/or in communication with one or moreperipheral devices, such as a display. In another exampleimplementation, the term computing device, as used herein, may refer toa mobile computing device such as a smartphone or tablet computer. Inthis example implementation, the computing device may output content toits local display and/or speaker(s). In another example implementation,the computing device may output content to an external display device(e.g., over Wi-Fi) such as a TV or an external computing system.

In some implementations of the disclosed technology, the computingdevice may include any number of hardware and/or software applicationsthat are executed to facilitate any of the operations. In someimplementations, one or more I/O interfaces may facilitate communicationbetween the computing device and one or more input/output devices. Forexample, a universal serial bus port, a serial port, a disk drive, aCD-ROM drive, and/or one or more user interface devices, such as adisplay, keyboard, keypad, mouse, control panel, touch screen display,microphone, etc., may facilitate user interaction with the computingdevice. The one or more I/O interfaces may be utilized to receive orcollect data and/or user instructions from a wide variety of inputdevices. Received data may be processed by one or more computerprocessors as desired in various implementations of the disclosedtechnology and/or stored in one or more memory devices.

One or more network interfaces may facilitate connection of thecomputing device inputs and outputs to one or more suitable networksand/or connections; for example, the connections that facilitatecommunication with any number of sensors associated with the system. Theone or more network interfaces may further facilitate connection to oneor more suitable networks; for example, a local area network, a widearea network, the Internet, a cellular network, a radio frequencynetwork, a Bluetooth enabled network, a Wi-Fi enabled network, asatellite-based network any wired network, any wireless network, etc.,for communication with external devices and/or systems.

FIG. 2 depicts a system for account processing, risk analysis, and trustservices of a non-conventional lending and funds-transfer network. Amanaged services gateway (MSG) 202 is operatively connected to a managedservices platform (MSP) 204, at least one consumer device 206, and atleast one bank server 208. The bank server includes a managed servicesaccount 210 and at least one consumer account 212 associated with theconsumer device 206. The MSP 204 is operatively connected to a trustplatform 214, which is also operatively connected to the bank server 208and a national managed services account 218. In some embodiment, the MSG202 is also connected to a managed service client 216. The MSP 204 mayalso be operatively connected with an employer payroll system 220, forexample via an API, for collecting unique consumer information insupport of calculating credit scores. To enable real-time messaging, theconnections between the MSG 202, MSP 240, and trust platform 214 utilizesecurely interconnects via API or REST objects.

Managed services include, for example, providing electronic andfinancial systems to extend credit and transfer funds outside of thetraditional banking system. Consumers include any person or entityoutside of the traditional banking system or managed services provided.For example, and not in limitation, individual employees of a companymay be consumers. As another example, a small business may also be aconsumer.

The consumer device 206 may be any computing device as described abovewhich is loaded with appropriate software to communicate with the MSG(for example through custom API messages) display content to theconsumer, and obtain input from the consumer. Examples of consumerdevices include, but are not limited to, desktop computers, laptopcomputers, smartphones, tablets, and smart watches. A person skilled inthe art will understand that additional computing devices available atthe time of this disclosure or in the future may have the necessarycapabilities. The MSG 202, MSP 204, trust platform 214, and MSC 216 maybe individual computer servers, applications loaded on a single server,or may be any combination of the two, including backup and redundantequipment for any of applications.

FIG. 3 depicts the active components of the system and theirinteractions when registering a new consumer account. The consumerdevice 206 downloads and installs data 302 for communicating with theMSG 202, such as a mobile app or information for a web page. Theconsumer device then sends a new account registration request 304 to theMSG 202. The MSG 202 then sends a verification request 306 to the MSP204 and a verification request 308 to the bank server 208. The MSP 204verifies that the appropriate national managed services account, localmanaged services account, and consumer credit line account exist andreturns an account approval message 310 to the MSG 202. The bank server208 likewise confirms that the appropriate local managed servicesaccount 210 and consumer checking or savings account 212 exist, andreturns an account approval message 312 to the MSG 202. The MSG 202 thensends an account approval message 314 to the consumer device 206, whichthen solicits a confirmation from the consumer. The confirmation isreturned to the MSG 202 as confirmation data 316.

Upon receiving the confirmation data 316, the MSP 204 obtains creditinformation 324 and assigns a maximum authorized funding level for thenew account. In one embodiment, this credit information 324 may beobtained from real-time, gateway API connections into one or moreemployer payroll systems 220 and may include current employment status.Credit information 324 may also include non-traditional informationunique to a consumer's relationship with an employer such as employmentstatus, grade level, monthly salary, commissions, length of employment,stock options, 401(k) account savings, vacation and sick days. Thecredit information 324 is used to generate a custom credit score uniqueto each consumer. The MSG 202 also establishes consumer credentials toauthenticate future transactions, such as a user name and password orpersonal identification number (PIN). The MSG 202 also sends aconfirmation message 318 to the MSP 204 and the bank server 208.

Upon receiving the confirmation message 318, the MSP 204 generates a newmanaged-services consumer account number 320 which is returned to theconsumer device 206 and the bank server 208 via the MSG 202. The bankserver 208 links the consumer account 212 to the managed servicesaccount 210 and to the new managed services consumer account number 320and sends a notification to the MSG 202 and MSP 204. The MSP 202 thensends an account-creation notification 322 to the consumer device 206,for example via text and email messaging.

FIG. 4 depicts the active components of the system and theirinteractions when initiating a new funding request, or card-reloadtransaction, to transfer funds from the consumer's credit line via aconsumer device. The consumer device 206 transmits a login request 402to the MSG 202, which returns a login verification 404 if login issuccessful. The MSG 202 sends an account verification request 406 to theMSP 204, which then transmits an account verification message 408 to theMSG 202, which includes a previously-determined authorized funding leveland verifies that the consumer account exists and is in good standing.

The authorized funding level is determined based on the maximumauthorized funding level less any outstanding funds that have beentransferred or loaned to the consumer. The maximum authorized fundinglevel is determined, at minimum, when a new managed-services consumeraccount is registered (see FIG. 3, supra). In some embodiments, themaximum authorized funding level may be determined at regular intervals.In some embodiments, the maximum authorized funding level may bedetermined continuously, in real time, based on a continuous stream ofconsumer account data. In other embodiments, the maximum authorizedfunding level may be determined in real time whenever new consumeraccount information is obtained by the MSP 204.

In some embodiments, the maximum authorized funding level may bedetermined based on an assessment of the consumer's creditworthiness.Credit information 430 may include non-traditional information unique toa consumer's relationship with an employer such as employment status,employment grade level, monthly salary, commissions, length ofemployment, stock options, 401(k) account savings, vacation and sickdays with all contributing to a custom, credit score unique to eachconsumer. In some embodiments, credit information 430 may be obtained atregular intervals. In other embodiments, credit information 430 may beobtained continuously, in real time, from one or more sources. Forexample, a credit information source such as an employer payroll system220 may transmit new credit information 430 to the MSP 204 as it becomesavailable. Similarly, credit may be evaluated continuously and in realtime based on the stream of incoming credit information.

Upon receiving the account verification message 408 from the MSP 204,the MSG 202 transmits the authorized funding amount 410 for the consumerto the consumer device 206. The consumer device 206 then presents theconsumer device with options to transfer amounts up to the presentlyauthorized funding amount 410. The consumer device 206 sends a requestedtransfer amount to the MSG 202 412 and the MSG 202 returns a transferapproval message 414 to the consumer device 206. The consumer device 206solicits a confirmation from the consumer. For example, the confirmationsolicitation may be a button on a GUI. Once the consumer provides aconfirmation, the consumer device 206 transmits a confirmation message416 to the MSG 202. The MSG 202 then transmits an internal fundstransfer instruction 418 to the bank server 208 associated with theconsumer's account 212. The internal funds transfer instruction 418causes the bank server 208 to transfer funds 420 equal to the requestedamount from the local managed services account 210 to the consumer'saccount 212.

Because this is an internal transfer between accounts held by the samebank, the transaction does not need to be processed through aclearinghouse. Therefore, the transfer can take place in real time, asquickly as the bank server 208 can process it. In other words, the fundstransfer can be essentially instantaneous. The consumer is also providedan option to issue a virtual card for the amount requested as a transferfrom the credit line account. Upon issue, the virtual card isimmediately activated and available for use and redemption.

After the funds are transferred internally between accounts with thebank, the bank server 208 then sends a funds transfer confirmation 422to the MSG 202. The MSG sends a funds transfer confirmation 424 to theMSP 204 which posts the transferred amount to the consumer's accountwith the managed-services provider and transmits a posting notification426 to the MSG 202. The MSG 202 then transmits a posting notification428 to the consumer device 206, for example via text and email. Asexplained above, the messaging process is only limited by the speed ofthe servers, the consumer device, and the networks involved, andtherefore can take place in real time.

FIG. 5 depicts the active components of the system and theirinteractions when initiating a new funding request, or reloadtransaction, to transfer funds from the consumer's credit line via amanaged services client, for example if the consumer calls a customerservice representative to initiate the transfer. The MCG 216 transmits alogin request 502 to the MSG 202, which returns a login verification 504if login is successful. The MSG 202 sends an account verificationrequest 506 to the MSP 204, which then transmits an account verificationmessage 508 to the MSG 202, which includes a previously-determinedauthorized funding level and verifies that the consumer account existsand is in good standing.

The authorized funding level is determined based on the maximumauthorized funding level less any outstanding funds that have beentransferred or loaned to the consumer. The maximum authorized fundinglevel is determined, at minimum, when a new managed-services consumeraccount is registered (see FIG. 3, supra). In some embodiments, themaximum authorized funding level may be determined at regular intervals.In some embodiments, the maximum authorized funding level may bedetermined continuously, in real time, based on a continuous stream ofconsumer account data. In other embodiments, the maximum authorizedfunding level may be determined in real time whenever new consumeraccount information is obtained by the MSP 204.

In some embodiments, the maximum authorized funding level may bedetermined based on an assessment of the consumer's creditworthiness.Credit information 530 may include non-traditional information unique toa consumer's relationship with an employer such as employment status,employment grade level, monthly salary, commissions, length ofemployment, stock options, 401(k) account savings, vacation and sickdays with all contributing to a custom, credit score unique to eachconsumer. In some embodiments, credit information 530 may be obtained atregular intervals. In other embodiments, credit information 530 may beobtained continuously, in real time, from one or more sources. Forexample, a credit information source such as an employer payroll system220 may transmit new credit information 530 to the MSP 204 as it becomesavailable. Similarly, credit may be evaluated continuously and in realtime based on the stream of incoming credit information.

Upon receiving the account verification message 508 from the MSP 204,the MSG 202 transmits the authorized funding amount 510 for the consumerto the MCG 216. The MCG 216 then presents the consumer device withoptions to transfer amounts up to the presently authorized fundingamount 510. The MCG 216 sends a requested transfer amount to the MSG 202512 and the MSG 202 returns a transfer approval message 514 to the MCG216. The MCG 216 solicits a confirmation from the consumer. For example,the confirmation solicitation may be a button on a GUI. Once theconsumer provides a confirmation, the MCG 216 transmits a confirmationmessage 516 to the MSG 202. The MSG 202 then transmits an internal fundstransfer instruction 518 to the bank server 208 associated with theconsumer's account 212. The internal funds transfer instruction 518causes the bank server 208 to transfer funds 520 equal to the loanamount from the local managed services account 210 to the consumer'saccount 212.

After the funds are transferred internally between accounts with thebank, the bank server 208 then sends a funds transfer confirmation 522to the MSG 202. The MSG sends a funds transfer confirmation 524 to theMSP 204 which posts the amount to the consumer's account with themanaged-services provider and transmits a posting notification 526 tothe MSG 202. The MSG 202 then transmits a posting notification 528 tothe consumer device 206, for example via text and email.

FIG. 6 depicts the active components of the system and theirinteractions when checking an account status, available balance, andhistory via a consumer device. The consumer device 206 transmits a loginrequest 602 to the MSG 202, which returns a login verification 604 iflogin is successful. The consumer device 206 then transmits an accountstatus, available balance, and history request 606 to the MSG 202. TheMSG 202 sends an account verification request 608 to the MSP 204, whichthen transmits an account verification message 610 which verifies theconsumer account exists and is in good standing. The MSG 202 sends anaccount balance and transaction history request 612 to the MSP 204,which queries the consumer records for account balance and transactionhistory and then transmits account transaction details message 614 tothe MSG 202. The MSG 202 also sends an account balance request 616 tothe bank server, which determines the consumer checking or savingsaccount balance 618 and managed services account balance 620 andtransmits these to the MSG 202. The MSG then generates and transmits anaccount available balance and history message 622 to the consumer device206.

FIG. 7 depicts the active components of the system and theirinteractions when funds are transferred from a national managed servicesaccount to local managed services accounts. Funds may be transferredfrom the national managed services account to local managed servicesaccounts on a regular basis or as needed, in real time. The trustplatform 214 transmits a disbursement inquiry 702 to the MSP 204. TheMSP 204 returns a disbursement message 704 which includes the details ofall account transaction (disbursements and payments) made or receivedfrom individual consumer accounts 212 during a inquiry period (e.g.weekly). The disbursement message 704 also itemizes the transactions bybanking institution and by managed services account 210.

Based on the disbursement message 704, the trust platform 214 withdrawssufficient funds 706 from the national managed services account 218 andthen transfers smaller amounts 708 to each local managed servicesaccount 210. The amount transferred 708 to each local managed servicesaccount 210 is based on the expected cash flow for new funds transfersto and payments from to all of the individual consumer accounts 212associated with the local managed services account 210. This amount 708may be determined using a predictive algorithm, a safety factor (e.g. afinancial “cushion”), and/or data available from other sources, such aspayroll data.

FIG. 8 depicts the active components of the system and theirinteractions when paying a consumer credit line via a consumer device.The consumer device 206 transmits a login request 802 to the MSG 202,which returns a login verification 804 if login is successful. Theconsumer device 206 then transmits a payment request 806 to the MSG 202.The MSG 202 sends an account verification request 808 to the MSP 204,which then transmits an account verification message 810 which verifiesthe consumer account exists and is in good standing.

In some embodiments, the MSG 202 transmits a consumer account balancerequest 811 to the bank server 208. The bank server 208 then returns aconsumer account balance 812. In these embodiments, the MSG 202 thencompares the requested credit line payment amount to the consumeraccount balance 812. If the requested payment exceeds consumer accountbalance 812, the MSG 202 transmits a payment denial message 814 to theconsumer device 206.

If the requested payment is less than the consumer account balance 812,or if the embodiment does not incorporate this step, the MSG 202transmits a credit line payment approval message 816 to the consumerdevice 206. The consumer device 206 then solicits a payment confirmationfrom the consumer. For example, the confirmation solicitation may be abutton on a GUI. The payment confirmation request may include the amountof the requested payment 806 and/or the consumer account balance 812 forthe consumer's convenience. Once the consumer provides a confirmation,the consumer device 206 transmits a payment confirmation message 818 tothe MSG 202. The MSG 202 then transmits an internal funds transferinstruction 820 to the bank server 208 associated with the consumer'saccount 212. The internal funds transfer instruction 820 causes the bankserver 208 to transfer funds 822 equal to the requested payment amount806 from the consumer's account 212 to the local managed servicesaccount 210.

After the funds are transferred internally between accounts with thebank, the bank server 208 sends a funds transfer confirmation 824 to theMSG 202. The MSG sends a funds transfer confirmation 826 to the MSP 204which posts the credit line payment amount to the consumer's accountwith the managed-services provider and transmits a posting notification828 to the MSG 202. The MSG 202 then transmits a posting notification830 to the consumer device 206, for example via text and email. Asexplained above, the messaging process is only limited by the speed ofthe servers, the consumer device, and the networks involved, andtherefore can take place in real time.

FIG. 9 depicts the active components of the system and theirinteractions when completing a payment via a managed services client.The managed services client 216 transmits a login request 902 to the MSG202, which returns a login verification 904 if login is successful. Themanaged services client 216 then transmits a payment request 906 to theMSG 202. The MSG 202 sends an account verification request 908 to theMSP 204, which then transmits an account verification message 910 whichverifies the consumer account exists and is in good standing.

In some embodiments, the MSG 202 transmits a consumer account balancerequest 911 from the bank server 208. The bank server 208 then returns aconsumer account balance 912. In these embodiments, the MSG 202 thencompares the requested payment amount to the consumer account balance912. If the requested payment exceeds consumer account balance 912, theMSG 202 transmits a payment denial message 914 to the managed servicesclient 216.

If the requested payment is less than the consumer account balance 912,or if the embodiment does not incorporate this step, the MSG 202transmits a payment approval message 916 to the managed services client216. The managed services client 216 solicits a payment confirmationfrom the consumer. For example, the confirmation solicitation may be abutton on a GUI. The payment confirmation request may include the amountof the payment 906 and/or the consumer account balance 912 for theconsumer's convenience. Once the consumer provides a confirmation, themanaged services client 216 transmits a payment confirmation message 918to the MSG 202. The MSG 202 then transmits an internal funds transferinstruction 920 to the bank server 208 associated with the consumer'saccount 212. The internal funds transfer instruction 920 causes the bankserver 208 to transfer funds 922 equal to the payment amount 906 fromconsumer's account 212 to the local managed services account 210.

After the funds are transferred internally between accounts with thebank, the bank server 208 then sends a funds transfer confirmation 924to the MSG 202. The MSG sends a funds transfer confirmation 926 to theMSP 204 which posts the payment amount to the consumer's account withthe managed-services provider and transmits a posting notification 928to the MSG 202. The MSG 202 then transmits a loan posting notification930 to the consumer device 206, for example via text and email.

FIG. 10 depicts the active components of the system and theirinteractions when paying loans from consumer accounts using batchprocessing. The MSP 204 transmits a batch processing command 1002 to theMSG 202. The batch processing command 1002 includes details of all thetransactions to be executed in the batch. Each transaction details theconsumer account 212, managed services account 210, and payment amountto be made.

In some embodiments, the MSG 202 may transmit consumer account balancerequests 1004 to the bank server 208 based in the batch processingcommand 1002. The bank server 208 then returns consumer account balances1006. In these embodiments, the MSG 202 then compares the requested loanpayment amounts in the batch processing command 1002 to the consumeraccount balances 1006. For each transaction, if the requested loanpayment amount exceeds the consumer account balance 1006, the MSG 202transmits a loan payment denial message 1008 to the MSP 204.

If each requested loan payment is less than the consumer account balance1006, or if the embodiment does not incorporate this step, the MSG 202transmits a loan payment approval message 1010 to the MSP 204. The MSG202 then transmits an internal funds transfer instruction 1012 to thebank server 208 associated with the consumer's account 212. The internalfunds transfer instruction 1012 causes the bank server 208 to transferfunds 1014 equal to the loan payment amount from consumer's account 212to the local managed services account 210.

After the funds are transferred internally between accounts with thebank, the bank server 208 then sends a funds transfer confirmation 1016to the MSG 202. The MSG sends a funds transfer confirmation 1018 to theMSP 204 which posts the loan payment amount to the consumer's accountwith the managed-services provider and transmits a loan postingnotification 1020 to the MSG 202. The MSG 202 then transmits a loanposting notification 1022 to each consumer device 206. As explainedabove, the messaging process is only limited by the speed of theservers, the consumer device, and the networks involved, and thereforecan take place in real time.

FIG. 11 depicts the active components of the system and theirinteractions when components when funds are transferred from a localmanaged services accounts to the national managed services account.Funds may be transferred from local managed services accounts 210 to thenational managed services account 218 on a regular basis or as needed.The trust platform 214 transmits a disbursement inquiry 1102 to the MSP204. The MSP 204 returns a disbursement message 1104 which includes thedetails of all account transaction (disbursements and payments) made orreceived from individual consumer accounts 212 during a inquiry period(e.g. weekly). The disbursement message 704 also itemizes thetransactions by banking institution and by managed services account 210.

Based on the disbursement message 1104, the trust platform 214 withdrawsunneeded funds 1106 from the local managed services accounts 210 andthen transfers the funds 1108 to the national managed services account218. Funds may be unneeded in the local managed services account 210 if,for example, the number of potential credit lines for that bank hasdecreased, or the aggregate amount of funding authorization for accountswith that bank has decreased. The amount transferred 1106 from eachlocal managed services account 210 is based on the expected cash flowfor new loans and payments to all of the individual consumer accounts212 associated with the local managed services account 210. This amount1106 may be determined using a predictive algorithm, a safety factor(e.g. a financial “cushion”), and/or data available from other sources,such as payroll data.

FIG. 12 depicts the active components of the system and theirinteractions when components when notifications, fees, and interest areposted to multiple consumer accounts using batch processing. In someembodiments, notifications, fees, and interest may be posted in realtime using batch processing to help consumers better manage their funds.The MSG 202 transmits a request to publish notifications, fees, andinterest 1202 to the MSP 204. The MSP 204 generates a report 1204including all of the notifications, fees, and interest charges to beposted in the batch. The MSP 204 then transmits this report 1204 to theMSG 202 and updates the appropriate account records accordingly. In someembodiments, the MSG 202 may resend the report 1206 to the MSP 204 forerror checking. In these embodiments, the MSP 204 will transmit aconfirmation message 1208 to the MSG 202 if no errors are found, or anerror message 1210 if errors are found. After the report 1204 isreceived by the MSG 202, and a confirmation message 1208 received, ifrequired, the MSG transmits appropriate notifications 1212 to all of theconsumer devices 206 whose associated accounts have been updated. Whenfees or interested are posted to managed-services consumer accounts,they may also be deducted from consumer banking accounts 212 in realtime, as explained above for other payments.

FIG. 13 depicts the active components of the system and theirinteractions when performing reconciliation and settlement operations.The bank server 208 transmits transaction details 1202 for the managedservices accounts and consumer accounts and an error report 1204 to amanaged services accounting platform 222. The trust platform 214likewise transmits transactions details of the national managed servicesaccount 1206 to the managed services accounting platform 222. The MSPtransmits details of newly registered consumer accounts 1208,transaction details for transfers to and payments from consumer accounts1210, ACH transaction details for each local managed services account1212, details of cards issued 1214, and details of all fees and interestposted 1216 to the MSG 202 and to the managed services accountingplatform 222. The managed services accounting platform 222 compiles andreconciles all of the transaction details it receives and transmits asettlement report 1218 to the MSG 202. The MSG 202 transmits thesettlement report 1218 and all of the transaction data received from theMSP 204 to an archive 224.

FIG. 14 depicts a flow chart for initiating a transfer of funds into aconsumer account 212 using a consumer device 206, presented from theperspective of the consumer device. At 1402, the device obtainscredentials from the consumer and transmits them to a server hosting amanaged services gateway (MSG) 202. At 1404, if the account credentialsare accepted, the process continues. Otherwise, the process starts over.At 1406 the device receives an authorized funding amount from the MSG.At 1408, the device transmits a request to transfer funds. The amount ofthe request is limited by the device to less than or equal to theauthorized funding amount received in step 1406. At 1410, the devicereceives a fund-transfer approval message. at 1412, the device promptsthe consumer, for example through a button on a GUI, to confirm thefunds transfer. At 1414, if the consumer confirms the transfer, theprocess continues. If the consumer does not confirm the transfer, theprocess terminates. At 1416, the device transmits the consumer'sfunds-transfer confirmation. At 1418, the device receives a confirmationfrom the MSG that the funds have been transferred to the consumer's bankaccount.

FIG. 15 depicts a flow chart for a server initiating a transfer of fundsinto a consumer account 212 based on instructions received from aconsumer device 206, from the perspective of a server hosting managedservices gateway (MSG) 202. At 1502, the server receives a login requestfrom a consumer device. At 1504, if the credentials included with thelogin request are verified, the process continues; otherwise itrestarts. At 1506, the server transmits an authorized funding amount tothe device. At 1508, the server receives a request from the device totransfer funds to the consumer's account. The amount requested islimited by the device to be less than or equal to the authorized fundingamount. At 1510, the server transmits a funds-transfer approval messageto the consumer device. At 1512, if the server receives a funds-transferconfirmation from the consumer device, the process continues; otherwisethe server waits a predetermined amount of time for a confirmation. At1514, if sufficient funds are available in a local managed-servicesaccount to complete the funds transfer, the process continues. If not,then the process is terminated. At 1516, the server transmitsinstructions to a bank server to transfer the requested funding amountfrom the local-managed services account to the consumer's bank accountin real time. At 1518, the server receives a confirmation from the bankserver that the funds successfully transferred. At 1520, the servertransmits a funds-transfer notification to the consumer's device.

To facilitate an understanding of the principals and features of thedisclosed technology, example implementations are explained above. Thecomponents described hereinafter as making up various elements of thedisclosed technology are intended to be illustrative and notrestrictive. Many suitable components that would perform the same orsimilar functions as components described herein are intended to beembraced within the scope of the disclosed electronic devices andmethods. Such other components not described herein may include, but arenot limited to, for example, components developed after development ofthe disclosed technology.

It must also be noted that, as used in the specification and theappended claims, the singular forms “a,” “an” and “the” include pluralreferents unless the context clearly dictates otherwise. Similarly,plural forms include singular referents unless the context clearlydictates otherwise.

By “comprising” or “containing” or “including” is meant that at leastthe named compound, element, particle, or method step is present in thecomposition or article or method, but does not exclude the presence ofother compounds, materials, particles, method steps, even if the othersuch compounds, material, particles, method steps have the same functionas what is named.

It is also to be understood that the mention of one or more method stepsdoes not preclude the presence of additional method steps or interveningmethod steps between those steps expressly identified. Similarly, it isalso to be understood that the mention of one or more components in adevice or system does not preclude the presence of additional componentsor intervening components between those components expressly identified.

References to “one implementation,” “an implementation,” “exampleimplementation,” “some implementations,” “certain implementations,”“various implementations,” etc., indicate that the implementation(s) ofthe disclosed technology so described may include a particular feature,structure, or characteristic, but not every implementation necessarilyincludes the particular feature, structure, or characteristic. Further,repeated use of the phrase “in one implementation” does not necessarilyrefer to the same implementation, although it may.

In some instances, a computing device may be referred to as a mobiledevice, mobile computing device, a mobile station (MS), terminal,cellular phone, cellular handset, personal digital assistant (PDA),smartphone, wireless phone, organizer, handheld computer, desktopcomputer, laptop computer, tablet computer, set-top box, television,appliance, game device, medical device, display device, or some otherlike terminology. In other instances, a computing device may be aprocessor, controller, or a central processing unit (CPU). In yet otherinstances, a computing device may be a set of hardware components.

Various aspects described herein may be implemented using standardprogramming or engineering techniques to produce software, firmware,hardware, or any combination thereof to control a computing device toimplement the disclosed subject matter. A computer-readable medium mayinclude, for example: a magnetic storage device such as a hard disk, afloppy disk or a magnetic strip; an optical storage device such as acompact disk (CD) or digital versatile disk (DVD); a smart card; and aflash memory device such as a card, stick or key drive, or embeddedcomponent. Additionally, it should be appreciated that a carrier wavemay be employed to carry computer-readable electronic data includingthose used in transmitting and receiving electronic data such aselectronic mail (e-mail) or in accessing a computer network such as theInternet or a local area network (LAN). Of course, a person of ordinaryskill in the art will recognize many modifications may be made to thisconfiguration without departing from the scope or spirit of the claimedsubject matter.

The design and functionality described in this application is intendedto be an example and is not intended to limit the instant disclosure inany way. Those having ordinary skill in the art will appreciate that theteachings of the disclosure may be implemented in a variety of suitableforms, including those forms disclosed herein and additional forms knownto those having ordinary skill in the art. For example, one skilled inthe art will recognize that executable instructions may be stored on anon-transient, computer-readable storage medium, such that when executedby one or more processors, causes the one or more processors toimplement the method described above.

As used in this application, the terms “component,” “module,” “system”and the like are intended to include a computer-related entity, such asbut not limited to hardware, firmware, a combination of hardware andsoftware, software, or software in execution. For example, a componentmay be, but is not limited to being, a process running on a processor, aprocessor, a graphical object, an executable, a thread of execution, aprogram, and/or a computer. By way of illustration, both an applicationrunning on a computing device and the computing device can be acomponent. One or more components can reside within a process and/orthread of execution and a component may be localized on one computerand/or distributed between two or more computers. In addition, thesecomponents can execute from various computer readable media havingvarious data structures stored thereon. The components may communicateby way of local and/or remote processes such as in accordance with asignal having one or more data packets, such as data from one componentinteracting with another component in a local system, distributedsystem, and/or across a network such as the Internet with other systemsby way of the signal.

Certain implementations of this technology are described above withreference to block and flow diagrams of computing devices and methodsand/or computer program products according to example implementations ofthe disclosure. It will be understood that one or more blocks of theblock diagrams and flow diagrams, and combinations of blocks in theblock diagrams and flow diagrams, respectively, can be implemented bycomputer-executable program instructions. Likewise, some blocks of theblock diagrams and flow diagrams may not necessarily need to beperformed in the order presented, or may not necessarily need to beperformed at all, according to some implementations of the disclosure.

These computer-executable program instructions may be loaded onto ageneral-purpose computer, a special-purpose computer, a processor, orother programmable data processing apparatus to produce a particularmachine, such that the instructions that execute on the computer,processor, or other programmable data processing apparatus create meansfor implementing one or more functions specified in the flow diagramblock or blocks. These computer program instructions may also be storedin a computer-readable memory that can direct a computer or otherprogrammable data processing apparatus to function in a particularmanner, such that the instructions stored in the computer-readablememory produce an article of manufacture including instruction meansthat implement one or more functions specified in the flow diagram blockor blocks.

As an example, some implementations of this disclosure may provide for acomputer program product, comprising a computer-usable medium having acomputer-readable program code or program instructions embodied therein,said computer-readable program code adapted to be executed to implementone or more functions specified in the flow diagram block or blocks. Thecomputer program instructions may also be loaded onto a computer orother programmable data processing apparatus to cause a series ofoperational elements or steps to be performed on the computer or otherprogrammable apparatus to produce a computer-implemented process suchthat the instructions that execute on the computer or other programmableapparatus provide elements or steps for implementing the functionsspecified in the flow diagram block or blocks.

Accordingly, blocks of the block diagrams and flow diagrams supportcombinations of means for performing the specified functions,combinations of elements or steps for performing the specifiedfunctions, and program instruction means for performing the specifiedfunctions. It will also be understood that each block of the blockdiagrams and flow diagrams, and combinations of blocks in the blockdiagrams and flow diagrams, can be implemented by special-purpose,hardware-based computer systems that perform the specified functions,elements or steps, or combinations of special-purpose hardware andcomputer instructions.

While certain implementations of this disclosure have been described inconnection with what is presently considered to be the most practicaland various implementations, it is to be understood that this disclosureis not to be limited to the disclosed implementations, but on thecontrary, is intended to cover various modifications and equivalentarrangements included within the scope of the appended claims. Althoughspecific terms are employed herein, they are used in a generic anddescriptive sense only and not for purposes of limitation.

This written description uses examples to disclose certainimplementations of the technology and also to enable any person skilledin the art to practice certain implementations of this technology,including making and using any apparatuses or systems and performing anyincorporated methods. The patentable scope of certain implementations ofthe technology is defined in the claims, and may include other examplesthat occur to those skilled in the art. Such other examples are intendedto be within the scope of the claims if they have structural elementsthat do not differ from the literal language of the claims, or if theyinclude equivalent structural elements with insubstantial differencesfrom the literal language of the claims.

The invention claimed is:
 1. A managed services platform (MSP)comprising: a processor; non-transient memory, operatively connected tothe processor, the non-transient memory comprising instructions which,when executed by the processor, cause the processor to perform a methodcomprising: determining an authorized funding authorization amount for auser account by connecting between the MSP and an employer payrollsystem of an employer of a user of the user account, and extracting,from the employer payroll system, user account data to determine thefunding authorization amount based on the user account data, the useraccount data comprising at least one of an employment status, anemployment grade level, employee benefit accounts, a monthly salary,commissions, a length of employment, available stock options, available401(k) account savings, available vacation time, available sick days,and available paid time off; transmitting, to a user device, theauthorized funding amount associated with the user account; receiving afunds transfer request from the user device, where the funds transferrequest comprises a funding amount less than or equal to the authorizedfunding amount, and an indication of an electronic bank card owned by auser and maintained with a first bank which operates a bank server;instantly issuing and activating the electronic bank card for the userin response to receiving the funds transfer request; identifying, basedon the funds transfer request, a first local managed services trustaccount among a plurality of local managed services trust accounts, eachof the plurality of local managed services trust accounts beingmaintained with a bank from among a plurality of banks, and the firstlocal managed services trust account being maintained with the firstbank among the plurality of banks; transmitting, in real time, aninternal funds transfer instruction to the bank server thereby causingthe bank server to transfer, via an intra-bank transfer at the firstbank and without processing the transfer through a clearinghouse byissuing and activating the electronic bank card owned by the user, andloading, in real time, the electronic bank card owned by the user bytransferring the funding amount from the first local managed servicestrust account to the electronic bank card owned by the user; receiving,in real time, an indication of confirmation of an internal fundstransfer from the bank server; instantly delivering the electronic bankcard to the user device in response to receiving the indication ofconfirmation of the internal funds transfer from the bank server; andtransmitting an internal funds transfer confirmation message to the userdevice, where the electronic bank card is accepted for immediate paymentand settlement by participating merchants via their physical andinternet-based point of sale devices.
 2. The MSP of claim 1 where thefunding authorization amount for the user account is based on a usercreditworthiness associated with the user.
 3. The MSP of claim 1,wherein the method further comprises initiating, based on the fundingamount, a funds transfer from a national managed services accountmaintained by to the first local managed services account.
 4. The MSP ofclaim 1, wherein the bank server transfers the funding amount from thefirst local managed services trust account to the electronic bank cardowned by the user as quickly as the bank server can process the internalfunds transfer instruction.
 5. The MSP of claim 1, wherein the methodfurther comprises initiating a funds transfer from a national managedservices account maintained by to the first local managed servicesaccount based on an expected cash flow for new funds transfers from thefirst local managed services account.
 6. A method for implementing amanaged services platform (MSP), the method comprising: determining anauthorized funding authorization amount for a user account by connectingbetween the MSP and an employer payroll system of an employer of a userof the user account, and extracting, from the employer payroll system,user account data to determine the funding authorization amount based onthe user account data, the user account data comprising at least one ofan employment status, an employment grade level, employee benefitaccounts, a monthly salary, commissions, a length of employment,available stock options, available 401(k) account savings, availablevacation time, available sick days, and available paid time off;transmitting, to a user device, the authorized funding amount associatedwith the user account; receiving a funds transfer request from the userdevice, where the funds transfer request comprises a funding amount lessthan or equal to the authorized funding amount, and an indication of anaccount owned by a user and maintained with a first bank which operatesa bank server; identifying, based on the funds transfer request, a firstlocal managed services trust account among a plurality of local managedservices trust accounts, each of the plurality of local managed servicestrust accounts being maintained with a bank from among a plurality ofbanks, and the first local managed services trust account beingmaintained with the first bank among the plurality of banks;transmitting, in real time, an internal funds transfer instruction tothe bank server thereby causing the bank server to transfer, via anintra-bank transfer at the first bank and without processing thetransfer through a clearinghouse by issuing and activating an electronicbank card owned by the user, and loading, in real time, the electronicbank card owned by the user by transferring the funding amount from thefirst local managed services trust account to the account owned by theuser; receiving, in substantial real time, an indication of confirmationof an internal funds transfer from the bank server; and transmitting aninternal funds transfer confirmation message to the user device, wherethe electronic bank card is accepted for immediate payment andsettlement by participating merchants via their physical andinternet-based point of sale devices.
 7. The method of claim 6 where thefunding authorization amount for the user account is based on a usercreditworthiness associated with the user.
 8. The method of claim 6wherein the method further comprises: instantly delivering theelectronic bank card to the user device in response to receiving theindication of confirmation of the internal funds transfer from the bankserver.
 9. The method of claim 6, wherein the bank server transfers thefunding amount from the first local managed services trust account tothe account owned by the user as quickly as the bank server can processthe internal funds transfer instruction.
 10. The method of claim 6further comprising initiating a funds transfer from a national managedservices account maintained by to the first local managed servicesaccount based on an expected cash flow for new funds transfers from thefirst local managed services account.
 11. A non-transitory computerreadable medium having stored thereon computer instructions forexecuting a method implementing a managed services platform (MSP), themethod comprising: determining an authorized funding authorizationamount for a user account by connecting between the MSP and an employerpayroll system of an employer of a user of the user account, andextracting, from the employer payroll system, user account data todetermine the funding authorization amount based on the user accountdata, the user account data comprising at least one of an employmentstatus, an employment grade level, employee benefit accounts, a monthlysalary, commissions, a length of employment, available stock options,available 401(k) account savings, available vacation time, availablesick days, and available paid time off; transmitting, to a user device,the authorized funding amount associated with a user account; receivinga funds transfer request from the user device, where the funds transferrequest comprises a funding amount less than or equal to the authorizedfunding amount, and an indication of an account owned by the user andmaintained with a first bank which operates a bank server; identifying,based on the funds transfer request, a first local managed servicestrust account among a plurality of local managed services trustaccounts, each of the plurality of local managed services trust accountsbeing maintained with a bank from among a plurality of banks, and thefirst local managed services trust account being maintained with thefirst bank among the plurality of banks; transmitting, in real time, aninternal funds transfer instruction to the bank server thereby causingthe bank server to transfer, via an intra-bank transfer at the firstbank and without processing the transfer through a clearinghouse byissuing and activating an electronic bank card owned by the user, andloading, in real time, the electronic bank card owned by the user bytransferring the funding amount from the first local managed servicestrust account to the account owned by the user; receiving, insubstantial real time, an indication of confirmation of an internalfunds transfer from the bank server; and transmitting an internal fundstransfer confirmation message to the user device, where the electronicbank card is accepted for immediate payment and settlement byparticipating merchants via their physical and internet-based point ofsale devices.